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4. Commitments for tournaments

The association has in the past received money corresponding to which the Association has certain liabilities. Examples of this include money collected under the One-time entry fee scheme and money donated by the Nadkarni family for conducting a tournament in the memory of their departed).

It was decided that these amounts be listed as separate sub-accounts in the PRBA accounts. It was felt that that would provide a more transparent view into the nature of the Association's finances. In particular, expenses related to regular tournaments condicted out of such sponsorships should be made specifically from the corresponding sub-account and should be discontinued once the funds in those accounts are exhausted.

It was also decided that the Association would no longer make any commitments of this nature for a period greater than 5 years. It would however be free to renew the commitment at the end of the commitment period.


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